Fuel Tech (NASDAQ:FTEK) Stock Rating Upgraded by Zacks Research

Fuel Tech (NASDAQ:FTEK) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the company. Wall Street Zen cut Fuel Tech from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce”.

Fuel Tech Trading Down 3.8%

Shares of FTEK stock opened at $1.78 on Monday. The firm’s 50 day moving average is $1.58 and its 200 day moving average is $1.46. The stock has a market capitalization of $55.48 million, a P/E ratio of -19.78 and a beta of 1.24. Fuel Tech has a 12 month low of $1.17 and a 12 month high of $3.65.

Fuel Tech (NASDAQ:FTEK) last released its quarterly earnings data on Tuesday, May 5th. The industrial products company reported ($0.04) earnings per share for the quarter. Fuel Tech had a negative net margin of 11.15% and a negative return on equity of 7.34%. The business had revenue of $6.08 million during the quarter, compared to analysts’ expectations of $7.62 million. On average, equities analysts predict that Fuel Tech will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Fuel Tech

A number of hedge funds and other institutional investors have recently bought and sold shares of FTEK. Advisory Services Network LLC raised its position in shares of Fuel Tech by 44.2% during the 3rd quarter. Advisory Services Network LLC now owns 21,627 shares of the industrial products company’s stock valued at $65,000 after buying an additional 6,627 shares in the last quarter. State Street Corp grew its position in Fuel Tech by 7.1% in the fourth quarter. State Street Corp now owns 121,846 shares of the industrial products company’s stock worth $190,000 after acquiring an additional 8,100 shares in the last quarter. Group One Trading LLC increased its stake in Fuel Tech by 26.1% in the fourth quarter. Group One Trading LLC now owns 42,509 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 8,803 shares during the last quarter. Prelude Capital Management LLC bought a new position in Fuel Tech in the third quarter valued at $40,000. Finally, Virtu Financial LLC purchased a new stake in Fuel Tech during the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 20.94% of the company’s stock.

About Fuel Tech

Fuel Tech, Inc (NASDAQ: FTEK) is a specialty technology and engineering company focused on developing and supplying clean air solutions for the power generation and industrial markets. The company designs, manufactures and markets proprietary chemical reagents and process control systems that help customers reduce emissions of nitrogen oxides (NOx), mercury and other air pollutants. Its technology platform combines advanced process modeling, plant optimization software and field testing services to help utilities and industrial facilities comply with environmental regulations and improve operational efficiency.

Fuel Tech’s core product lines include selective catalytic reduction (SCR) optimization systems, activated carbon injection solutions for mercury capture, and sorbent enhancement additives for flue gas desulfurization processes.